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Working-expenses. —The ratio of working-expenses to premium income for 1916 was 27-7 per cent., and 27-5 per cent, for 1917. Accumulated Funds. —The funds at close of 1917 amounted to £182,645 2s. 5d., and for 1916 £155,958 15s. Id., showing the very substantial increase of £26,686 7s. 4d. C. R. C. Robieson, General Manager. Revenue Account of the State Fire Insurance Office for the Year ended 31st December, 1917. £ s. d. £ s. d. Premiums after deduction of reinsurances 85,321 7 0 Losses by fire (after deduction of reinsurOther receipts—lnterest, commission, and ances) .. .. .. .. 27,1102 411 rent .. .. .. .. 6,059 6 0 Appropriated to reserve for unearned premiums (in addition to £31,043 12s. 9d. already reserved) .. .. .. 3,084 18 1 Investments Fluctuation Reserve Fund .. .1,000 0 0 Government taxes .. .. .. 13,923 19 6 Commission' .... .. .. 7,278 10 0 Salaries .. .. .. .. 8,581 16 2 War bonus to staff on salaries under £315 355 9 1 Contributions to Fire Boards under the Fire Brigades Act, 1908 .. .. 1,652 310 Expenses of management — £ s. d. Travelling-expenses .. 666 1 3 Printing, stationery, and advertising .. .. 908 1 5 Rent .. .. .. 1,092 17 8 Exchange .. .. 22 0 8 Postages, telegrams, cablegrams, and sundry charges .. .. 1,595 3 0 Office buildings and equipment—written off .. 1,315 18 2 5,600 2 2 Amount of fire-insurance funds at end of year .. .. .. .. 22,601 9 3 £91,380 13 0 £91,380 13 0 28th February, 1918. C. R. C. Robieson, General Manager. Examined and found correct. —R. J. Collins, Controller and Auditor-General. Balance-sheet of the State FireJ Insurance Office on the 31st December, 1917. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Government war bonds and stock .. 55,000 0 0 Capital authorized by the Government debentures and Consols .. 68,196 6 6 State Fire Insurance Mortgages on property .. . . 2,600 0 0 Act, 1908 .. .. 100,000 0 0 Freehold land and buildings .. .. 26,812 7 11 Less not raised .. 100,000 0 0 Outstanding premiums .. .. 5,713 10 5 Nil j Interest accrued but not due .. .. 1,513 8 0 Reserve Fund .. .. .. 113,915 2 4 j Rent accrued but not due .. .. 19 3 6 Reserve for bonus to policyholders .. 8,000 0 0 j Cash in Bank of New ZeaInvestment Fluctuation Reserve Fund .. 4,000 0 0 land at Wellington, or £ s. d. Reserve for unearned premiums .. 34,128 10 10 in transit to Wellington 47,909 19 11 Premiums and other deposits .. .. 320. 7 6 Imprest Account balances— Outstanding lire losses .. .. 3,166 0 0. i £ s. d. Government taxes .. .. .. 13,923 19 6 Head Office 177 13 2 Other amounts owing by the Office— Auckland 27 16 11 Reinsurance premiums £ s. d. Christchurch 74 3 6 duo .. .. 6,234 13 2 Dunedin 105 1 0 Commission . . .. 1,273 15 5 Palmerston Bent .. .. 180 410 North ... 3 0 0 Printing, stationery, New Plyand advertising .. 13 13 11 mouth .. 67 17 3 Postages and sundry 455 11 10 charges .. .. 462 11 4 48,365 11 9 8,164 18 8 Fire - insurance funds, as per Revenue Account .. .. .. '.. 22,601 9 3 £208,220 8 1 £208,220 8 1 28th February, 1918. C. R. C. Robieson, General Manager. Examined and found correct. —R. J. Collins, Controller and Auditor-General.

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